Wednesday, 25 September 2019

Questions (173)

John Deasy


173. Deputy John Deasy asked the Minister for Housing, Planning and Local Government if public and private consortia applying under the urban regeneration and development fund are expected to progress a certain proportion of capital expenditure from their own resources before further phases of funding are sanctioned. [38957/19]

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Written answers (Question to Housing)

Project Ireland 2040 provided for the establishment of a €2 billion Urban Regeneration and Development Fund (URDF), focusing on cities and towns in excess of 10,000 in population, which will secure more compact, sustainable growth in Ireland’s five cities and other large urban centres.

The URDF is a competitive, bid-based programme that operates on a multi-annual basis over the period to 2027. Competitive bids are invited from public bodies, which may be in the form of a consortium and may also include private sector and/or community/voluntary sector representation. These bid proposals must be co-funded and require a minimum 25% stakeholder contribution or "matched funding" to be provided.